German Air Taxi Startup Lilium Shuts Down After Failing to Secure Funding
Once a promising innovator in electric air mobility, Lilium has terminated nearly all operations and dismissed most of its workforce following insolvency proceedings.
- Lilium, a German startup developing electric vertical takeoff and landing (eVTOL) aircraft, has ceased operations after failing to secure critical funding from investors.
- The company had filed for insolvency in October, citing financial overextension and an inability to meet operational costs without new capital.
- Approximately 1,000 employees were laid off, with only a small team retained to manage the company's liquidation process.
- Hopes for a government-backed €100 million guarantee to attract investors were dashed after the federal and Bavarian governments declined to provide support.
- Lilium's assets, including patents and battery technology, may now be sold off, and the company's future at its current German location appears unlikely.
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